BTC/USDT – 4H – BUY

The currency pair Bitcoin/Tether (BTC/USDT) breaks through the bearish trendline up.

An ascent upwards to the next resistance level at 117429.050000000 is certain.

Caution: A possible counter-trend in the direction of the support level at 108666.660000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The pair is likely to go up.

Then a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which is often a bullish signal. The currency pair could go up.

Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 116570.33 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance zone at 117429.050000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bearish Harami Cross’ candlestick chart pattern is found. The candles show ‘Bearish Harami Cross’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami Cross’ heading down is 57% (Bull Market) & 56% (Bear Market).

117429.050000000 – 118575.000000000 – 124474.000000000 – 108666.660000000 – 111684.790000000 – 116803.990000000 — 55.330622944197 – 55.392963374007

Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Harami Cross – Double bottom chart pattern – –